Major Businesses In Las Vegas NV
This is the third article in the series about the city of Las Vegas by Vegas Condo Scene – Las Vegas Condos for Sale. There are many major businesses located here and we mention a number of them in this article.
Considering it’s “The Entertainment Capital of the World,” Las Vegas and it’s surrounding metropolitan area has job hunters and investors swarming like bees. Swarming because to invest and finding a great hotspot in the city, better known for their entertainment and tourism industries, can be a gamble.
Like Russian-roulette, if you don’t know who’s who or what’s hot in the city, you can be left out of the business pool of wealth. Naturally, gambling, tourism, and the hospitality businesses do well, but not many people know that the Hispanic tradition of a girl’s ‘coming out’ birthday at 15 or better known as the Quinceañera” is booming like hot tamales as the Las Vegas Sun reported. (http://lasvegassun.com/news/2016/aug/21/quinceaera-tradition-booming-industry-las-vegas/, Las Vegas Sun, 8-21-16).
Much like a game, the business world can be risky if you don’t have enough backup and a sound financial business background in these two areas. As for the construction, the airlines, the real estate, the education institutions, shopping, and restaurant industries, they seem to be doing fine. Gambling your money on those can bring financial success but with success, consistency and patience may render even.
Self-made business people; to gamble or not to gamble?
Unless you were bred into the world of riches, being a self-made business person such as Vegas casino tycoon, Sheldon Adelson, placing your bets on companies with wit the high stakes is a gamble and not for every business person. Not to forget, he’s also a college drop-out, which is anything but to gossip about, yet, is considered the richest man in every state. In fact, he’s gambled his money in the casino industry and won. His net worth is in the billions, an estimated $29.2 billion according to Forbes magazine (as of 8/21/16). (Read more:http://www.forbes.com/profile/sheldon-adelson/)
Another self-made businessperson is Elaine Wynn of the Wynn Resorts who has a net worth of $1.8 billion for investing in the resort industry. She also holds the title at #12 for America’s Self-Made (richest) Women for 2016. (Read more:http://www.forbes.com/profile/elaine-wynn/)
According to Forbes, some of Nevada’s major companies have resulted in millionaires and a few billionaires with their major companies stamping their business on the map. In fact, it’s become one of the wealthiest places to live and work at, considering that it’s #94 in business growth and careers. It’s also #75 in job growth, as well as grossing the metro city to $91.7 billion in 2014.
The BIG Time Companies
Places like Caesars Entertainment ($8.56 Billion), the Sands Corporation ($13.76 billion), Wynn Resorts ($5.62 billion), MGM Resorts International ($9.81 billion) Boyd Gaming ($2.3 billion), and Station Casinos ($950 million) have all been dubbed as the major businesses located in Las Vegas, Nevada.
With a wide variety of entertainment, including fine-dining establishments, other business industries doing relatively well are the outdoor lighting manufacturers, and even some trying to tap into the Olympics betting tables such as wagering on “who or what country is going to win this sport,” but, that was a bomber. (Source: http://lasvegassun.com/news/2016/aug/19/us-olympic-gold-hasnt-made-for-winning-bets-in-las/?_ga=1.162867711.2100052116.1471672374)
Nevertheless, those investing in businesses that gear towards companies like employment agencies, acute care hospitals, grocery chains/drug stores, the hospital industry, information technology, and the performing arts will have some potential on the horizon.
Some listed as the top contenders for the major businesses in Las Vegas are Sands which struck revenues in the billions; Vegas’ Sands Corporation has stakes in the resort and property arena and has employed over 8,000 people bringing in a positive influence for those seeking jobs in the hospitality industry.
Top major companies in Las Vegas
– Wal-mart Stores
– United Health Corp.
– Sears Holding Corp.
– Boyd Gaming Corp.
– Cosmopolitan of Las Vegas
– The Valley Health System
– Home Depot and Lowe’s
– NV Energy
– St. Rose Dominican Hospitals
– JW Advisors
– American Lung Association
– Mandarin Oriental Hotel Group
– Saint Leo University
– Disney Consumer Products
– Hard Rock International
– Duke Universities
– Raising Canes
– Gulf Stream Aerospace
– Louis Vuitton
To stay or not to stay; Vegas and companies
If anyone would profile Las Vegas-Henderson-Paradise (metro area), this live entertaining city has a population of 2,075,100 (metro area) with a median household income of approximately $52,735. Although, for home buyers, with a median home priced at $174,900, home shoppers may need to count really on savings and investing of their own to stay in Vegas. Not all property is sold since it doesn’t come cheap living in the entertainment capital of the world.
In conclusion, it’s not all games and fun, but should you rent property, which is more of a gamble with your money for something you will not own in the long run. Stakes are high though if you’re just passing through, like attending school for instance. Finally, the unemployment rate may give a hint since back in 2014, it was reported that it was at 7%. Today, it’s reported that the unemployment rate is 6.9. (Source: http://www.bls.gov/web/metro/laummtrk.html, 2016)
Hence, “what happens in Vegas, stays in Vegas.” As now, it seems to be booming and still alive. If you could invest or open up a business in Las Vegas, what and why would you do it there?